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Between ‘SUCCESS’ and ‘FAILURE’, there is ‘INNOVATION’

January 11, 2020

Ordinarily, those who refuse to learn & improve, will definitely one day become redundant & not relevant to solutioning and business. They will learn the lesson in a hard and expensive way!

Learning and improving is about the ability to change as fast as the next disruptor that emerges. It is called ‘innovate’. The disruptor is usually technology application but it is one other guy who brings it about as business in the form of innovation. Even if you identify him, it still does not help because he is in business just as you are. How for example can Nokia start fingering Apple, Samsung, Microsoft or even Google as its albatross?

Among those big businesses that went up fast and came down hard, the Kodak case is, but less visible than the Nokia case.

If you recall, during the press conference to announce NOKIA being acquired by Microsoft, Nokia CEO ended his speech saying “we didn’t do anything wrong, but somehow, we lost”. Upon saying that, all his management team, himself included, teared sadly.

Nokia has been a respectable company. Truly, they didn’t do anything wrong in their business, however, the world changed too fast. Their opponents were too much into innovation.

They missed out on learning, they missed out on changing, and thus they lost the opportunity at hand to make it bigger. Not only did they miss the opportunity to earn big money, they lost their chance of survival.

The message of this story is, if you don’t change, you shall be removed from the competition. And that change is also innovate.

Let’s put it another way: It’s not wrong if you don’t want to learn new things. However, if your thoughts and mindset cannot catch up with time, you will be eliminated from the system, not just from the race.

If all these are still not clear, it will become clearer when we read Pro Yves Doz ‘s 2017 analysis on “decisions (perhaps indecision, really) that caused Nokia’s failure”. It is available at:

https://knowledge.insead.edu/strategy/the-strategic-decisions-that-caused-nokias-failure-7766

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3 thoughts on "Between ‘SUCCESS’ and ‘FAILURE’, there is ‘INNOVATION’"

  • I believe learning is a process… We all learn everyday except the dead are the only ones that stopped learning.
    Young, middle aged,deaf, blind people are viable to learning and can’t stop. I as a person like to learn more and know more if given the opportunity.
    In the case of Nokia, they can still get back to their feet if only they learn and do more research that’s if they are not doing that already…
    Inclusion, I think we should all grab the chance if given again to learning because one can grow better in whatever one is doing either business, or anything. Learning gives room for development and awaken you . Thank.

  • There is a popular adage in Yoruba which says this , ‘ Ọjọ iku ní ojó isinmi,,’ meaning Rest is after death . It means the only place of rest is grave . It is very important that one should keep learning every day , infact until one gets to the grave. It is only by learning new things and innovation that one can be relevant..It is only when you diversify that one could only compete favourably with other competitor . Isn’t branding and re-branding part of marketing strategy and a way of innovating . Learning and Innovating should be a way of life and motivating factor of existence.

 

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